I am still of the opinion we are going to get a pullback in the...

I am still of the opinion we are going to get a pullback in the near future. On the daily, we are way overextended with the MAs. So let's look at the monthly, as any pullback needs to taken into context (ie not that long ago we were in single digits!!).


I believe the fundamentals are much better driving the SP rise compared to 2021. We pushed through .20, but as I said, I am not confident it will hold. Although, there is plenty of buying interest obviously atm. Profit takers will come imo.

What jumps out on the chart is, we are still a long way from the 50 SMA crossing the 200.

Previously on the rocket analogy, we are still rumbling on the takeoff pad (see 2021). A move through .30 with the 50 going over the 200 is what I am looking forward to!